Immunotherapy drugs refer to the treatment approach which helps boosts a patient's own immune system to fight against cancer. The growing incidence of cancer and rising preference for targeted therapies among oncologists are boosting demand for immunotherapy drugs worldwide. Immunotherapy drugs allow prolonged remission and improves survival rates in various cancer types including melanoma, lung cancer, etc.
Key players operating in the immunotherapy drugs are Infineon Technologies AG, STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group, Sierra Wireless, NXP Semiconductors, AT&T. The key players are focusing on development of innovative drug candidates and targeting key markets through collaborations and acquisitions.
The rising prevalence of cancer globally presents significant growth opportunities for players in the immunotherapy drugs market. Furthermore, the availability of favorable reimbursements for targeted cancer therapies is encouraging patients to opt for immunotherapy.
North America dominated the global immunotherapy drugs market in 2024. However, Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. The high growth is attributed to growing healthcare infrastructure, rising cancer incidence, and increasing demand for advanced treatment options for cancer in the region.
One of the major drivers for Global Immunotherapy Drugs Market Size is the increasing prevalence of cancer worldwide. According to WHO, cancer is among the leading causes of death globally and accounted for nearly 10 million deaths in 2020. The rising disease incidence is generating high demand for effective cancer treatment options and immunotherapy drugs are gaining major traction in this sector.
High cost of immunotherapy drugs is a major challenge restricting their widespread adoption, especially in low- and middle-income countries. For instance, the average annual cost of checkpoint inhibitor drugs ranges from US$ 100,000 to US$ 150,000, making them unaffordable for a large section of patients globally.
The immunotherapy drugs market can be segmented based on therapy, application, end-user and region. Based on therapy, the market is dominated by monoclonal antibodies segment owing to its wide application in treatment of various cancer types. Monoclonal antibodies help target specific antigens and tumor associated antigens present on cancer cells. By application, the oncology segment dominates as majority of immunotherapy drugs available are used for treatment of various cancer types such as lung cancer, breast cancer, blood cancer, and others. Hospitals end-user segment holds leading market share due to high patient footfall and availability of advanced healthcare facilities for cancer treatment in hospitals.
Regionally, North America holds the largest share in the immunotherapy drugs market due to high healthcare expenditure, availability of advanced healthcare facilities, and presence of leading manufacturers in the region. Additionally, growing prevalence of cancer and rising adoption of targeted therapy and immunotherapy stimulate market growth. Europe is the second largest market owing to increasing R&D activities for development of novel immunotherapies. However, Asia Pacific region is expected to grow at fastest rate during the forecast period due to rising healthcare investment, increasing awareness about cancer treatment, and developing healthcare infrastructure in emerging countries of the region.
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